Addressing Dutch parliament, Dijsselbloem, who is also the Netherlands’ finance minister, said that the referendum referred to documents that had “no relevance” since Greece’s bailout program expired on June 30.
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He said a “no” victory would be interpreted around the world as a “choice to leave from the heart of Europe” and that it would be “a first step toward the exit”.
For Tsipras, if voters back a bailout plan that he has scorned, his government is likely to fall, leading to new elections by September. Greek proposals had “met budgetary targets” but were not accepted. We are in something of an unknown.
Hollande was speaking in Cotonou, Benin. Greece offered more concessions to its creditors, but was rebuffed – Eurozone finance ministers refused to negotiate any more aid until the referendum clears up what the country wants. “And how can you then accept such a program if the result is ‘no.’ So it will be incredibly hard”.
Stock markets, however, rebounded Wednesday amid hopes that a deal could still be struck to keep Greece in the eurozone. “That suggestion is simply wrong”.
“The future of Greece is in the hands of the Greek people”, he said.
Luis de Guindos has told Spain’s Cadena SER radio that a “yes” vote would amount to a vote of no confidence in the Greek government. But until that vote on Sunday, they said they planned no further discussions.
Greece on Tuesday made a last-minute proposal for a third bailout worth almost 30 billion euros ($33 billion) to follow the two rescue programmes worth 240 billion euros that cash-strapped Athens has received since 2010.
Ahead of the referendum, an opinion poll on Wednesday showed the “No” camp in the lead with 46%, against 37% for “Yes” and 17% undecided.
The vote leaves Greece in uncharted waters: risking a banking collapse that could force it out of the euro.
For the referendum to be valid, at least 40 percent of Greece’s 9,855,029 registered voters must turn out.
The events will happen 800 meters (875 yards) apart in central Athens, to accommodate a five-day campaign on one of the most important votes in Greece’s modern history that still has many voters confused about about what’s at stake. That could take the form of a reduction in the debt, extending repayments way into the future and slashing the interest rates payable on the debts. The banks, which have been bleeding deposits since February, are being kept alive by the loans.
Asked by Bloomberg Television whether he would still be in office on Monday evening if Greeks voted “yes”, Varoufakis, a Marxist economics professor, said: “
I will not …
“.
Tsipras said he wanted to renegotiate the terms of Greece’s European Union bailouts that resulted in billions being loaned to the country, which was on the brink of a default, in exchange for severe – and deeply unpopular – austerity measures.
Greece’s debt to GDP ratio has soared from 130 percent to 180 percent of GDP, and that is an impossible burden to repay.
Even before he was elected prime minister in January, stunning the country’s long dominant center-left and center-right parties, Tsipras compared the creditors’ demands to “fiscal waterboarding”. And without the support of European institutions, Greece’s payment system would shut down and its banks would not be able to operate.
This stance was reinforced by the International Monetary Fund boss, Christine Lagarde, who said it would “be preferable to see a deliberate move towards reforms” in Greece before debt relief was offered. “We need new jobs, new investments, not more chaos”, 32-year- old Alizoti fretted.
Following reports of his letter to his creditors, Tsipras addressed the nation to quash speculation swirling on social media that he might cancel the referendum. “France is stronger than in 2010”.
“The message from the “No” is that we’re not scared after all the pressure that we faced from both Europe and within”, said Stathis Efthimiadis, a 47-year-old teacher.
“Our efforts are focused on overcoming the crisis as fast as possible – with a solution that preserves the dignity and sovereignty of our people”, Prime Minister Alexis Tsipras said.
That growth estimate was made before Greece broke off talks with official creditors last weekend and ordered capital controls and its banks shut for a week.
For Greek Prime Minister Alexis Tsipras, the day started with a peace offering and ended with a war.
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“The Greek government would appear to continuing its game of cat and mouse with its creditors”, said Michael Hewson, chief market analyst at CMC Markets.
